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Analyzing edX’s latest tax returns offers valuable insights and context for its acquisition motivations.

In 2025, Udemy hit its first profitable year, but its Q4 2025 ended in a loss. A few days after announcing the numbers, the stock reached an all-time low. The company didn’t have an earnings call, nor did it release an investor presentation because of its pending merger with Coursera. The earnings call would have been helpful to break down the numbers, since the numbers look bleak from an investor’s perspective. The overall revenue has fallen for the first time since the company went public, a

“Andrew is literally the only person that both Sam Altman and Dario Amodei have worked for. He is going to come up with things that nobody else can come up with.” “We don’t know exactly what those inventions and innovations will look like yet, but I’m highly confident that he is uniquely positioned to come up with things that we wouldn’t have come up with on our own.” That’s Greg Hart, Coursera’s CEO, on the July 29 earnings call, the first one since the Udemy merger, explaining why Coursera p